[Wondermonkey]

I don't want to ruin it for Epyon, since he's probably never seen it, but Swayze didn't die at the end, Reeves let him go.

Via con dias!

"You let him go!"
"No I didn't"

Swayze paddles out to massive waves in a storm

Cops: "We'll get him when he comes back in!"
Reeves: "He's not coming back."

Since Swayze really is dying, I don't see him being back in the sequel, even if the same director is involved.